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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: fmikehugo who wrote (4705)	1/19/2007 2:57:32 PM
From: Uncle Frank	Respond to of 5205

>> my basis is 22.26 I have good news. You're not as upside down as you think :-). When you first posted, you reported you had purchased 1,000 shares at 22.25 and wrote 10 Jan 22.5s at .47. That would make your adjusted cost basis a mere $21.78. >> I'm looking for a mechanical system that will tell me "You are now at the point where the effect of probable appreciation in the underlying is going to be more than offset by depreciation of time value." >> That does not seem unreasonable. <G> I agree, but neither do anti-gravity boots. I've seen ads for products that claim to predict the optimum time to open or close an option position, but if they really worked, I doubt they'd be for sale. duf